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February 28, 2025
Question

Foreign tax withheld on a 1099 DIV is NOT carrying to my total withholding. How to get it on the return?

  • February 28, 2025
  • 1 reply
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The 2023 year return shows it as a credit on line 20 form 1040. How do i do it for this year?

    1 reply

    DaveF1006
    March 1, 2025

    It depends. if you received a 1099 DIV in 2024, and there was foreign tax reported in Box 7, here are are follow up questions that asked how much of your 1099 DIV was foreign income and what country was it earned from. See the screen I have included below that illustrate this. Note the country that is illustrated here is Canada but you would choose the country where the foreign dividend was paid from.

     

    Once this is reported, you need to file a form 1116 to claim the credit in 2024, if the amount is more that $300 if filing single or $600 if filing married filing jointly. To file the Foreign Tax Credit, go to:

     

    1. Go to Federal
    2. Deductions and credits 
    3. Estimate and other taxes paid 
    4. Foreign Tax Credit>start or revisit

     

     

     

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